Trump just upended the TACO Trade by signing an executive order with an updated list of tariffs that was tougher than markets were expecting.

A top administration official signaled confidence that President Donald Trump’s trade plans will survive even if the sweeping global tariffs that pushed other countries to the negotiating table are ultimately deemed illegal.

U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump's tariffs were justified by the president's emergency powers, as lawyers for states and businesses challenging the measures argued he exceeded his authority.